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22 Nov

Autumn Budget 2017

  • Budget Summary

Our budget summary will appear here later.…

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15 Nov

How to appeal against a tax decision

  • General

It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision made by HMRC. There are a number of different options open to taxpayers seeking to use the review and appeals process. Note, there is a separate…

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15 Nov

Claiming an “unclaimed” estate

  • Inheritance Tax

There are special rules that govern how assets are divided if a person dies without making a will. If this happens your assets are passed on to family members in accordance with a set legal formula. This can result in a distribution of assets that…

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15 Nov

How to import goods for the first time

  • HMRC notices

Businesses that are starting to import goods for the first time need to be aware of a myriad of special rules that apply. Whilst most smaller businesses importing goods will use a courier or freight forwarder, it is still important to be aware of the…

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15 Nov

Disguised remuneration settlement opportunity

  • HMRC notices

A new measure to tackle disguised remuneration tax avoidance schemes was announced as part of the Autumn Statement 2016. The new measure will introduce a loan charge on disguised remuneration avoidance schemes that remain unpaid on 5 April…

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15 Nov

How much statutory redundancy pay should you receive?

  • Payroll

If you have been in the same job for two years or more and are made redundant you will usually be entitled to a redundancy payment. The legal minimum that you are entitled to receive is known as ‘statutory redundancy pay’. There are exceptions where…

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15 Nov

Changing a will after death

  • Inheritance Tax

This may come as a surprising fact to many of our readers, but a will can be changed after death. This can be done by using what is known as a Deed of Variation. Any changes to the will must be done within two years from the date of death. However,…

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15 Nov

Are you caught by the High Income Child Benefit tax charge?

  • Income Tax

The High Income Child Benefit Charge (HICBC) applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge either reduces or removes the financial benefit of receiving child benefit. Where both…

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8 Nov

OTS publishes new report on the VAT system

  • Value Added Tax

The Office of Tax Simplification (OTS) provides advice to the Chancellor on simplifying the UK tax system, with the objective of reducing compliance burdens on both businesses and individual taxpayers and will draw together expertise from across the…

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8 Nov

Delay in withdrawal of self-employed NIC contributions

  • National Insurance

In a surprising move, the Government has announced that the planned abolition of Class 2 National Insurance Contributions (NICs) is to be delayed for a year. The withdrawal of Class 2 NICs was due to take place from April 2018 but will now take place…

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8 Nov

HMRC win Littlewoods’ tax case

  • General

HMRC has won a landmark case after the Supreme Court overturned an earlier decision of the Court of Appeal. The issue at hand concerned historic overpayments of VAT by Littlewoods (a catalogue sales business) between 1973 and 2004. In 2004, HMRC…

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8 Nov

Are your bank deposits protected?

  • General

The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building societies should the institution become insolvent. The Financial Services Compensation Scheme (FSCS) guarantee amount is currently £85,000…

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